It’s back-to-school time again, and with that comes the steady stream of paperwork that I have to fill out for school.
Recently I received my offer of financial aid from GW. This year, because my graduate school has apparently decided to throw me under the bus and not offer me grants to offset the cost of attendance, I took out the maximum allowed under the Direct Lending program, which this year is $20,500. Thank you, Congress!
(And as an aside: I fully recognize that I’m not entitled to any kind of grant assistance from the graduate school to begin with. After all, I’m in my third year and at this point hardly need incentive to stay, other than realizing how utterly stupid it would be to quit now. But still.)
Buzzed on Starbucks, I decided to do the unthinkable and calculate the total amount of student loans I currently owe. I always joked that I could easily reach the six-figure mark, but was aghast to discover that I actually owe $95,523.45 in student loans. And that’s just the principal.
Now, to my friends in law or med school, $95,523.45 might be small potatoes. And it’s actually not that bad, considering that these loans are helping support my pursuit of a doctorate degree. But what makes it slightly depressing is the fact that my doctorate is in education. And that my doctorate isn’t even a real doctorate.